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dc.contributor.authorBertheussen, Bernt Arne
dc.contributor.authorVassdal, Terje
dc.date.accessioned2022-03-25T13:01:57Z
dc.date.available2022-03-25T13:01:57Z
dc.date.issued2022-03-01
dc.description.abstractAs a general rule, only active fishermen can own fishing boats for commercial fishing in Norway. Thus, vertical integration is not allowed. Accordingly, the Norwegian empirical context is exceptionally well suited to study actual rent creation as a potential resource rent can only accrue to the catch stage of the value chain. This paper examines profitability and rent generation of 35 seagoing Norwegian purse seiners (around half the population) for 13 consecutive years. The study period starts in 2005, which saw the introduction of the latest version of the Norwegian individual transferable quota (ITQ) variant, or the so-called structural quota (SQ) system. First, this study investigates how profitable a purse seiner has become during the SQ regime. As per our findings, it was found that the average annual return on equity (ROE) was 20.8% and that the book value of equity more than doubled over the period (a 166% increase). Moreover, for the cohort of 35 vessels, rent operationalized as residual income (RI) was reported for every year examined (2006–2017). The discounted value of RI for the period was approximately 50 million NOK per vessel, which is equivalent to about 5 million EUR. This implies that the players generated substantial rent. The findings of this study draw a picture of a financially stable and lucrative industry. Finally, implications of the findings are discussed.en_US
dc.identifier.citationBertheussen bab, Vassdal T. Rent Generation Under the Norwegian Rights-Based Pelagic Fishery. Frontiers in Marine Science. 2022en_US
dc.identifier.cristinIDFRIDAID 2006853
dc.identifier.doi10.3389/fmars.2022.841505
dc.identifier.issn2296-7745
dc.identifier.urihttps://hdl.handle.net/10037/24570
dc.language.isoengen_US
dc.publisherFrontiers Mediaen_US
dc.relation.journalFrontiers in Marine Science
dc.rights.accessRightsopenAccessen_US
dc.rights.holderCopyright 2022 The Author(s)en_US
dc.titleRent Generation Under the Norwegian Rights-Based Pelagic Fisheryen_US
dc.type.versionpublishedVersionen_US
dc.typeJournal articleen_US
dc.typeTidsskriftartikkelen_US
dc.typePeer revieweden_US


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